European Central Bank (ECB) President Christine Lagarde told European Union leaders on Friday that they expect the decline in the Euro area's inflation to continue, per Reuters.

Lagarde added that the growth is projected to pick up in the course of 2024, mainly driven by increasing purchasing power. She further noted that the economic resilience requires higher productivity, which needs higher capital investment.

Market reaction

These comments failed to trigger a noticeable reaction and EUR/USD was last seen losing 0.4% on the day at 1.0815.